PETER SCHIFF BIOGRAPHY

Peter
David Schiff was born on March 23, 1963. He is the Chief Executive Officer
of EPC – Euro Pacific Capital Incorporated. He is also the author of several
books, an investment broker and a financial commentator. He is based in
Connecticut as a broker-dealer. The CEO post of Euro Pacific Precious Metals
also belongs to him.

His birthplace was Connecticut, New Heaven more precisely. Irwin Schiff is his father, an
important figure in the American movement of tax protest. Nowadays, he is
serving a sentence of thirteen years in Federal prison, because of tax evasion.
Young Peter was a student at Beverly Hills High School, California. In 1987 he
graduated with a degree in accounting and finance from the University of
California.

His career began with him being employed as a stockbroker at a brokerage of Shearson Lehman Brothers. Schiff and a partner of
his acquired a small firm for brokerage in 1996. The firm was originally
founded in 1980. They renamed it to the nowadays known Euro Pacific Capital. In
2005 Schiff decided to relocate the firm in Darien, Connecticut. In his words,
the reason for this was that there were not many American brokers who share his
views and strategies and also – the largest broker pool in the US was found in
the Metro NY region. This would make it easier for him to recruit employees who
are like-minded. Nowadays, the headquarters of Euro Pacific Capital
Incorporated are in Westport. The Company is a broker-dealer, registered and in
full service and specialises in securities and markets that are non-U.S.
Offices of the Company can be found in Florida, Boca Raton, NYC, LA, Arizona,
Scottsdale, California and Newport Beach. The Company Euro Pacific Precious
Metals promotes the physical owing of silver and gold as an important element
in the portfolio of every prudent investor. It was founded about two years ago.
Its headquarters are found in NYC. Michael Freedman is its manager. As for
other affiliates of EPC – there are Euro Pacific International, Euro Pacific
Bank Limited, EP Advisors Limited and EP Funds SCC Limited. The webpages of
these companies claim that they were created in order to provide products which
reflect Schiff’s philosophy of investment to investors outside the United
States.

As for
public appearances, he is often a guest on television shows concerning finance
and economy. Some major publications in finance have quoted his views on
several matters. After being the host of a podcast on the web, called Wall
Street Unspun, he created his very own ‘The Peter Schiff Show’ – a broadcast on
the radio. About two years ago Schiff tried for the seat of the US Senate in
Connecticut. However, he could not beat Linda McMahon and lost the seat to her.
He is famous for his views on the American dollar and economy, which are
considered ‘bearish’, and for his bullish views on foreign stocks and
currencies as well. He is very supportive of the school of economic thought in
Austria.When it
comes to Schiff’s views on economy, there is this expression he is famous for –
the US is the Titanic and he has the lifeboat – meaning that he foresees a big
financial crisis ahead. In 2007 he wrote a book called Crash Proof. In it, he
defines the economic policies of the US as unsound. It was his belief that the
imbalance between the production and consumption in the United States would
lead to serious economic issues. Increased personal production and savings was
what Schiff suggested as a way to avoid those future troubles. One of the
reasons for the transformation of the US from one of the largest creditors to
one of the countries with largest debts, he says, is the low rate of personal
savings. In 2008, 2010 Schiff made two appearances on television. They were on
Fox News and the CNBC network for financial news. There he mentioned some
factors, like the lack of standards of lending, which he pointed out as one of
the reasons for the 2007 housing crisis. In 2007 he showed up for a Boomerang
TV interview, on Open Exchange. In this interview he said the crisis was going
to extend to the industry of credit card lending. He described consumer credit
as a ‘cancer’ on the economy of free market. It was his belief that interest
rates were going to rise and the dollar would certainly ‘collapse’. He foresaw
a big crisis concerning credit card finance coming in 2008. The result, in his
words, would be that card issuers would slash the limits on card spending and
consumer credit. Americans faced the threat of inability of using credit card
lines for making purchases. Hyperinflation would come upon the United States,
without changes in the economic policy of the government – Schiff has said this
numerous times since 2007. In a speech he gave in 2009, he stated that
repayment of the American debt to China is impossible. That is unless the value
of the U.S dollar is reduced through inflation. In September the same year, he
said that it would not come as a surprise to him if in the future he saw the
prices of gold at 5000 dollars. He called the rally of the stock market that
year a ‘bear market rally’. In Schiff’s opinion, the minimum wage laws are only
hurtful to the people who have little skill by reducing the possibility of them
gaining the experience they need for a higher chance of employment. In 2011
(March), he said that the tax on corporate income should be abolished. In October
2012 he made a prediction on gold prices - they would reach 5000 dollars per ounce in the course of the next two
years.

Here is
some information on Schiff’s political career. He was Ron Paul’s economic
adviser, when he entered the presidential campaign in 2008, with unsuccessful
outcome. To support Paul’s plan for economic revitalization, Schiff stated that
his plan was the only strategy that had the power to turn events to a positive
direction. The same year, he supported Murray Sabrin for the seat in the Senate
of the U.S in New Jersey. His attitude towards the reduction of the economic
regulation of the government was positive. He also had some concerns about the
President’s administration causing the increase of regulations such as this
one. According to Schiff’s words, the government’s act to make ‘a printing
press’ the replacement of legitimate savings, will lead to a state of
hyperinflation.

Peter Schiff authored
six books. His most famous work is ‘Crash Proof’. It became a bestseller on the
lists of both Wall Street Journal and the NY Times.

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Latest news, comments and media appearances of Peter David Schiff - the CEO and Chief Global Strategist of Euro Pacific Capital and CEO of Euro Pacific Precious Metals, LLC, a silver and gold dealer. His insights about the US and global economy, fiscal cliff, US dollar, precious metals and the Fed.